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18 Results Found
  • Payments industry reiterates demand for a stable MDR regime Jul 22, 2020 03:43 PM IST

    Payments industry reiterates demand for a stable MDR regime

    For digital payments to grow, India needed to reward innovation and risk-taking abilities, they say.

  • RBI’s new payment aggregators’ norms: Enabling innovation and customised services for merchants Jun 10, 2020 08:23 PM IST

    RBI’s new payment aggregators’ norms: Enabling innovation and customised services for merchants

    The new norms not only adds flexibility and control but also creates scope for innovation.

  • In the Aftermath of Zero MDR: Exploring new revenue opportunities for Payment Service Providers Jan 29, 2020 08:32 PM IST

    In the Aftermath of Zero MDR: Exploring new revenue opportunities for Payment Service Providers

    It is hoped that the requests of the NPCI, IBA, PCI and the like will bear fruit, however indications so far are that zero MDR is here to stay.

  • Zero MDR may be good for digital adoption but at what cost? Jan 07, 2020 09:15 AM IST

    Zero MDR may be good for digital adoption but at what cost?

    No income from transactions could make businesses unviable for key stakeholders, which could lead to investors shying away.

  • Scrapping of MDR to see fewer RuPay cards: Bankers Jan 06, 2020 04:58 PM IST

    Scrapping of MDR to see fewer RuPay cards: Bankers

    With banks forced to bear processing charges on RuPay cards, they were more likely to issue Mastercard and Visa cards

  • Finance Ministry implores banks to boost RuPay, UPI infra: Report Jan 03, 2020 04:17 PM IST

    Finance Ministry implores banks to boost RuPay, UPI infra: Report

    Non-complaint businesses would face a daily penalty of Rs 5,000.

  • Banks yet to pay back MDR on small digital transactions: PCI Sep 27, 2018 08:50 PM IST

    Banks yet to pay back MDR on small digital transactions: PCI

    "None of the banks have reimbursed for transactions processed from 1st January 2018 till date," PCI chairman Vishwas Patel said in a statement.

  • Govt to reimburse MDR on transactions up to Rs 2,000 Dec 16, 2017 10:28 AM IST

    Govt to reimburse MDR on transactions up to Rs 2,000

    MDR is charged on payments made to merchants through BHIM UPI platform and AePS (Aadhaar enabled Payment System).

  • Why digital payment cos disapprove slashing debit card transaction fee Mar 16, 2017 09:38 PM IST

    Why digital payment cos disapprove slashing debit card transaction fee

    Such companies feel the central bank's draft proposal seeking changes to the fee regime on debit cards will kill innovation in the payments business.

  • Digital payments get a boost: Oilcos to bear MDR on fuel buying Feb 27, 2017 08:47 AM IST

    Digital payments get a boost: Oilcos to bear MDR on fuel buying

    The impasse over the payment of merchant discount rate (MDR) charges on fuel purchases via debit cards seems to have reached a conclusion with oil retailing companies - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp - agreeing to pay the charges, at least until March 31, reports the Mint today.

  • SBI waives debit card charges for small merchants for 1 year Jan 09, 2017 05:40 PM IST

    SBI waives debit card charges for small merchants for 1 year

    This is to help the small merchants overcome the apprehensions towards joining this journey by installation of Point of Sale (PoS) terminals in their shops.

  • Fuel purchases via cards won't attract transaction fee: Govt Jan 09, 2017 03:42 PM IST

    Fuel purchases via cards won't attract transaction fee: Govt

    Credit and debit cards will continue to be accepted at petrol pumps even after January 13 without customers having to pay transaction charges, the government said today.

  • Banks-petrol pumps' spat to blow a hole in Modi‘s digital plans Jan 09, 2017 08:42 AM IST

    Banks-petrol pumps' spat to blow a hole in Modi‘s digital plans

    The spat between banks and petrol pumps is likely to blow a hole in Prime Minister Modi‘s digital India dreams. While petrol pumps pan-India have for now deferred their decision to decline debit and credit card payments for fuel sales until January 13, the matter might raise its ugly head again soon.

  • Petrol pumps defer decision to not accept card payments Jan 09, 2017 08:00 AM IST

    Petrol pumps defer decision to not accept card payments

    To promote cash-less transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.

  • Some banks begin levying MDR charges on debit card payments Jan 04, 2017 08:12 AM IST

    Some banks begin levying MDR charges on debit card payments

    "The MDR charges waiver has been extended till January 7 and the review would be done after that," Citi India spokesperson said.

  • Banks waive MDR for all debit cards till December 31 Nov 24, 2016 07:56 AM IST

    Banks waive MDR for all debit cards till December 31

    Country's largest private sector lender ICICI Bank announced waiving the MDR on debit card transactions at all merchants serviced by its merchant acquiring arm ICICI Merchant Services IMSL.

  • Leading private banks waive debit cards charges for merchants Nov 23, 2016 10:10 PM IST

    Leading private banks waive debit cards charges for merchants

    Private sector lenders ICICI Bank, Axis Bank and Yes Bank joined their public sector peers to waive the merchant discount rate (MDR) levied on merchants while accepting digital debit card payments from customers.

  • Card cos, banks asked to waive debit card merchant fees: Srcs Nov 22, 2016 02:03 PM IST

    Card cos, banks asked to waive debit card merchant fees: Srcs

    According to a CNBC-TV18 report, PMO has asked card companies (both RuPay and private card companies) and banks (both public and private banks) to waive the transaction fees also called merchant discount rate (MDR) on debit card usage.

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